Amount of Monthly Benefit. Effective January 1, 2018, The City will maintain the Flexible Benefit Plan contribution in an amount equal to one thousand five hundred six dollars ($1,506). Effective January 1, 2022 the Flexible Benefit Plan contribution amount will be reduced to one thousand five hundred dollars ($1,500). New Employees hired after December 4, 2017 shall not be entitled to cash out any portion of the Flexible Benefit Plan Contribution. Effective January 1, 2022 and each year during the open enrollment period employees whose premiums exceed their FBP contribution amount have the option to redirect the City paid deferred compensation contribution of $100.00 and have that amount added to their FBP (see 21.4). The City agrees to a limited reopener to discuss a potential increase to the FBP in the final year 2024 of this MOU. Any increase negotiated would be effective January 1, 2024. The bargaining group must approach the Human Resources Department Division to request a reopener if it is desired at that time. The mutual agreement of the parties is required for any change.
Amount of Monthly Benefit. 15.3.1 For those APEA members who joined prior to January 1, 2021 (Founding Captains), the member shall be able to use the full amount of $1,765 for health insurance, dental insurance, vision plans, and all supplemental products (i.e. term life insurance, flexible spending account, disability insurance, accident insurance, critical illness insurance, cancer insurance, etc.)
Amount of Monthly Benefit. As of January 1, 2010, the Flexible Benefit Plan amount is one thousand two hundred twenty four dollars $1224. Effective July 1, 2010, the City will maintain the Flexible Benefit Plan at one thousand two hundred twenty four dollars ($1224) per month for each employee. This plan can be used by the employee to pay, to the extent available, for qualified benefits as determined by the IRS. The employee understands that, in the event the total premiums and/or expenses for qualified benefits selected by him/her exceed the amount of the FBP, the excess shall be deducted from pre-tax wages of the employee.
Amount of Monthly Benefit. The City will maintain the Flexible Benefit Plan at an amount equal to the CalPERS, Los Angeles County, Kaiser Family Plan Rate plus the Delta Dental PPO Family Plan Rate, for a total Flexible Benefit Plan contribution of one thousand three hundred and forty six dollars ($1,346). ) per month for each employee. This plan is voluntary and can be used by the employee to pay, to the extent available, for qualified benefits as determined by the IRS. The employee understands that, in the event the total premiums and/or expenses for qualified benefits selected by him/her exceed the amount of the FBP, the excess shall be deducted from pre-tax wages. As to new unit members who are hired on or after the adoption of this MOU (March 21, 2016), the City will maintain a total Flexible Benefit Plan contribution of one thousand two hundred dollars ($1200). New members are not eligible for any cash in lieu option related to this benefit.. New members may opt out of the Flexible Benefit Plan and receive three hundred dollars ($300) in lieu of participation.
Amount of Monthly Benefit. Upon ratification of this MOU agreement, the City and APMA Association agrees to make the following change to the monthly flexible benefit allowance and excess cap for cash payout:
Amount of Monthly Benefit. Effective August 1, 2019, the Flexible Benefit Plan will increase to one thousand four hundred dollars ($1,400) per month for each employee. This plan is voluntary and can be used by the employee to pay, to the extent available, for qualified benefits as determined by the IRS. The employee understands that, in the event the total premiums and/or expenses for qualified benefits selected by him/her exceed the amount of the FBP, the excess shall be deducted from pre-tax wages.
Amount of Monthly Benefit. Effective August 1, 2020, the City and the XXXX Association agrees to make the following changes to the monthly flexible benefit allowance and excess cap for cash out:
